OTCPK:KATFF - Post Discussion
Post by
JanineK22399HH on May 29, 2019 8:14am
Glencore news - Cbalt supply deal with Belgian Battery Maker
Glencore Agrees Cobalt Supply Deal With Belgian Battery Maker Umicore
LONDON (Alliance News) - Glencore PLC has agreed to provide Belgian materials firm Umicore NV ...
LONDON (Alliance News) - Glencore PLC has agreed to provide Belgian materials firm Umicore NV with cobalt, the bluechip miner and commodities trader said Wednesday.
The cobalt will come from Glencore's Katanga Mining and Mutanda operations in the Democratic Republic of the Congo, helping Umicore develop battery materials using the commodity.
Umicore is satisfied the operations meet its requirements, Glencore said, including no use of child labour. No cobalt will be supplied from artisanal workings.
Nico Paraskevas, the head of marketing at Glencore Copper & Cobalt, said: "We are pleased to enter into this long-term partnership with Umicore in the fast growing electric vehicle market which further endorses Glencore's important role in supplying the materials that enable the energy and mobility transition."
Glencore shares were 1.6% lower in London on Wednesday at 255.80 pence each, with Johannesburg shares also down 1.3% at ZAR47.78.
By George Collard; georgecollard@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
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